Monday, May 10, 2010

Mixed Signals Remain

The market is in bull mode....I THINK.

Last week the rising dollar AND rising precious metals/miners mixed with a sharp downturn in the indices is very telling that something big is brewing.

Get long the metals and miners.

February's lows need to hold in the S&P for this broad market to be "bull" otherwise under S&P 1040, expect a lot of selling and the resumption of the bear.

Regardless, metals and miners are in bull mode.

I think Bernanke has in fact avoided a deflationary depression.

2 comments:

  1. AnonymousMay 17, 2010 at 10:44 PM

    Hi Tenyear
    I enjoy your commenets on market very much.Can you share what you have been buying?Are you as bullish as Beanie?Is this good time to go long?
    Thanks again
    Sam

    ReplyDelete
  2. TenYearMay 18, 2010 at 1:34 PM

    Sam: I'm focused on PMs, miners, and energy related stuff right now.
    GDX
    GDXJ
    GLD
    SLV
    USO
    CLF
    EXK
    HL
    SLW

    etc...

    We have to wait for these to pull back a bit before getting back in.

    ReplyDelete

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